Cryptocurrency Firm Accidentally Transfers $10.5 Million to Australian Woman and Doesn’t Realize for Seven Months | CRYPTOCURRENCIES

Cryptocurrency trading platform accidentally transferred $10.5 million to an Australian woman while processing a $100 refund and did not notice the error for seven months.

The company, which paid Hollywood star Matt Damon to appear in a Super Bowl commercial with the slogan “fortune favors the brave,” discovered that he had accidentally transferred the fortune to Melbourne woman Thevamanogari Mannivel in December 2021, seven months after the mistake was made., doing business as Foris GFS in Australia, paid $10.5 million in lieu of a $100 refund after Mannivel’s account number was accidentally entered in the payment amount field.

The company brought legal action in Victoria’s high court this year, and in February it was granted a freeze on Mannivel’s Commonwealth Bank account, but most of the money had been transferred to other accounts, which were then frozen.

The court heard that $1.35 million of the money had been used to buy a four-bedroom house in Craigieburn, north Melbourne, in February, with ownership of the property being transferred to Mannivel’s sister, Thilagavathy Gangadory, who lives in Malaysia. .

Attempts to serve Gangadory with the freezing orders were unsuccessful, as she never responded to emails from’s lawyers. The only communication provided to the court was an email response to Manivel’s lawyers saying “received, thank you.”

Lawyers for Manivel told that Gangadory was “seeking legal advice,” the court heard.

As a result, a default judgment was granted to to compel Gangadory to sell the property as soon as possible, with the money to, as well as interest in the amount of $27,369.64 and costs. declined to comment on the case while it was in court.

In June, said it was laying off 260 of its employees due to the cryptocurrency market downturn. But The Verge reported that the company had quietly laid off many more and had not told the rest of the staff.

The downturn in the cryptocurrency market came just months after the AFL announced a five-year partnership with to become the “official cryptocurrency trading and exchange platform for the AFL and AFLW.” said in May that it remained fully committed to the deal.

“We are well-funded and these are multi-year contracts, which will continue to play a crucial role in our mission to accelerate the global transition to crypto,” a spokesperson said.

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